Italy’s PM says budget aimed at accelerating fall in debt/gdp ratio

ROME (Reuters) – Italy’s government is working on a “courageous” budget for 2019 that will include already announced reforms and will aim to lower the ratio between debt and gross domestic product, Prime Minister Giuseppe Conte said on Tuesday.

“We have also worked to design the budget in such a way as to accelerate the decline in the debt-GDP ratio in a consistent fashion over a three-year period,” Conte’s office said in a statement following a meeting of key ministers.

The coalition last week said it planned to run a deficit of 2.4 percent of GDP over the next three years, tripling the previous target, unnerving markets and prompting criticism from European Commission officials.